“JK TYRE RECORDS EXCELLENT PERFORMANCE IN Q4FY21”
Net Revenue 2,945
- The Board has recommended a dividend of 100 % on its equity shares.
- Performance Highlights (Consolidated) – Q4FY21 vs. Q4FY20
- Consolidated net revenues stood at Rs.2,945 crore up by 63%.
- EBIDTA at Rs.472 crore, recorded an increase of 119% with margin expansion of 400 bps.
- Multifold growth in PBT and PAT on y-o-y basis stood at Rs.281 crore and Rs.195 crore respectively.
Performance Highlights (Consolidated) – FY21 vs. FY20
- Consolidated net revenues stood at Rs.9,145 crore up by 4%.
- EBIDTA at Rs.1,349 crore, increased by 33% with margin expansion of 310 bps.
- PAT stood at Rs.331 crore, an increase of 134%.
New Delhi, May 20 : Indian Tyre Industry major JK Tyre & Industries Ltd. (JK Tyre) announced its results today for Q4FY21 & FY21.
Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “The year began with India in lockdown due to COVID-19 pandemic and the economy grinding to a halt with Q1FY21 almost a wash out. Economy started opening up gradually from mid-May. As a result of several initiatives taken JK Tyre recovered fast and achieved highest Sales in Q3FY21 & Q4FY21 increasing its market presence. With high capacity utilization, control on costs and reduced working capital, special focus on customer outreach and premium products offering, profitability improved significantly. Similarly, JK Tyre subsidiaries – Cavendish Industries and JK Tornel also added to substantial overall improvement in the profitability of the Company.”
Dr. Singhania further said, “JK TYRE is fully geared to face challenges emanating from rising raw material prices and prevailing lockdowns under second wave of novel virus.”
He further commented, “Despite these headwinds, the Company expects to continue capturing opportunities that are arising in this new environment in India and abroad.”
JK Tyre & Industries Limited
The flagship company of JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three-wheelers.
A global force, JK Tyre is present in 105 countries with over 180 Global distributors. The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities – 9 in India and 3 in Mexico – that collectively produce around 35 million tyres annually. The Company also has a strong network of over 4000 dealers and 550+ dedicated Brand shops called as Steel Wheels and Xpress Wheels.
JK Tyre’s unwavering commitment towards innovation is reflected through its state-of-the-art global research and technology centre – the Raghupati Singhania Centre of Excellence – in Mysore, which houses some of the world’s finest technologies and techniques.
JK Tyre launched India’s first ever ‘Smart Tyre’ technology and introduced Tyre Pressure Monitoring Systems (TPMS) which monitors the tyre’s vital statistics, including pressure and temperature. In 2020, the company rolled out its 20 millionth Truck/Bus Radial tyre becoming the first and the only Indian company to achieve this milestone.
It is the only Indian tyre manufacturer to be included in the list of Superbrands India in 2019 for the seventh consecutive year. JK Tyre has been conferred the Sword of Honour for Safety across its plants by the British Safety Council, UK. The company entered the Limca Book of Records with the country’s largest off-the-road tyre – VEM 04. JK Tyre won the Economic Times Iconic Brands of the Year 2020.
JK Tyre is also synonymous with motorsport in the country. For over three decades, the Company has relentlessly worked towards shaping India’s positioning as the motorsport hub of Asia, developing the right infrastructure for the sport and promoting young talent in the arena.